Barings LLC Continues to Hold Position in Mallinckrodt PLC (MNK)

Barings LLC maintained its stake in Mallinckrodt PLC (NYSE:MNK) during the first quarter, Holdings Channel reports. The institutional investor owned 40,710 shares of the company’s stock at the end of the first quarter. Barings LLC’s holdings in Mallinckrodt PLC were worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MNK. Russell Investments Group Ltd. purchased a new stake in Mallinckrodt PLC during the fourth quarter worth approximately $6,355,000. Dimensional Fund Advisors LP increased its stake in Mallinckrodt PLC by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,439,853 shares of the company’s stock worth $71,732,000 after buying an additional 182,433 shares during the last quarter. Federated Investors Inc. PA increased its stake in Mallinckrodt PLC by 58.5% in the fourth quarter. Federated Investors Inc. PA now owns 54,870 shares of the company’s stock worth $2,734,000 after buying an additional 20,241 shares during the last quarter. Marshall Wace LLP increased its stake in Mallinckrodt PLC by 342.7% in the fourth quarter. Marshall Wace LLP now owns 24,450 shares of the company’s stock worth $1,218,000 after buying an additional 18,927 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Mallinckrodt PLC by 20.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 17,425 shares of the company’s stock worth $868,000 after buying an additional 2,963 shares during the last quarter. Institutional investors own 96.46% of the company’s stock.

Mallinckrodt PLC (MNK) traded up 0.82% during trading on Monday, reaching $46.70. The company had a trading volume of 332,431 shares. The company has a 50-day moving average price of $42.97 and a 200 day moving average price of $47.44. Mallinckrodt PLC has a 52-week low of $38.80 and a 52-week high of $85.83. The stock’s market cap is $4.64 billion.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.05. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The business had revenue of $810.90 million during the quarter, compared to analyst estimates of $781.23 million. During the same period last year, the company earned $2.01 earnings per share. Mallinckrodt PLC’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Mallinckrodt PLC will post $7.55 earnings per share for the current year.

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MNK has been the topic of a number of research analyst reports. Jefferies Group LLC downgraded Mallinckrodt PLC to a “buy” rating and decreased their target price for the stock from $95.00 to $70.00 in a research report on Monday, March 13th. Leerink Swann reiterated an “outperform” rating on shares of Mallinckrodt PLC in a research report on Monday, March 20th. Guggenheim set a $98.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Saturday, April 1st. Canaccord Genuity decreased their target price on Mallinckrodt PLC from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Finally, BMO Capital Markets decreased their target price on Mallinckrodt PLC from $79.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. Mallinckrodt PLC currently has a consensus rating of “Buy” and an average price target of $74.31.

In related news, VP Coleman N. Lannum III bought 1,968 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $46.20 per share, for a total transaction of $90,921.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Steven J. Romano bought 1,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were bought at an average price of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 5,818 shares of company stock worth $248,608. Corporate insiders own 0.53% of the company’s stock.

About Mallinckrodt PLC

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

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Institutional Ownership by Quarter for Mallinckrodt PLC (NYSE:MNK)

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